*(Via Washington Post) — T-Mobile USA and Metro PCS will merge, the companies announced Wednesday, after getting approval from both company boards.
In a statement, the companies said they will combine their efforts to roll out a high-speed 4G LTE network.
The deal, T-Mobile hopes, will give the new venture the “expanded scale, spectrum and financial resources to aggressively compete with the other national U.S. wireless carriers.”
MetroPCS shareholders will receive $1.5 billion cash and 26 percent ownership in the new venture. T-Mobile USA parent company Deutsche Telekom will have majority control with 74 percent of the stake.
“We are extremely pleased to announce this transaction with MetroPCS, which enhances Deutsche Telekom’s position in the expanding U.S. wireless market,” said René Obermann, the German carrier’s chief executive officer. “The T-Mobile and MetroPCS brands are a great strategic fit – both operationally and culturally.”
Both companies are known for offering cheaper plans — MetroPCS is a no-contract wireless carrier — and have a strong base in the lower end of the market. More importantly, T-Mobile and MetroPCS have rights to LTE spectrum in the same band — meaning that it will be easier for them to work together as they move their networks forward.
Read/learn more at Washington Post.
- Hulk Hogan Wonders Why Obama Can Use N-Word and Not Him in Retweet
- Joe Jackson Alert, Feeling Good After Stroke, Heart Attacks
- Stan Sheppard: 'Why Do A&R Directors Positions Still Exist?'
- Dr. Rosie Milligan: It's Time for Black Leadership to Make Sense
- Aretha Franklin, Nina Simone and Others Portrayed in 'A Night With Janis Joplin'
- The Socialist's Journal: Derek Luke
- Bobby Brown Speaks On Bobbi Kristina’s Death
- Nappywood’s 3rd L.A. Natural Hair & Lifestyle Expo Attracts Stars
- THE (07-28-15) EURweb Free-4-All Page/Board
- NYC Principal Commits Suicide After Found Cheating on Common Core Test, DOE Releases Statement (Video)
- Discover More Stories on EURweb: Click Here